Extension To Trade Credit Scheme Must Be Communicated Quickly

Lord Mandelson has today announced that eligibility for the government’s £5 billion trade credit scheme will be backdated to include suppliers who had their cover reduced since October last year.

Commenting, Director General of the British Chambers of Commerce (BCC), David Frost, said:

“The extension of the scheme is necessary, as problems surrounding credit insurance cover became apparent in late 2008. For it to be a success, however, the availability of the government’s intervention needs to be communicated swiftly and efficiently to the businesses that have been affected. Chambers of Commerce will ensure our members are kept fully informed.”